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2011 PLAN
25 Jan.11
Booking & Transfer Target 2011
73%67%65%
8%7%
8%
19%26%
27%
22,000
25,000
20,000
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2010 2011(F) 2010 2011(F)
M.B.
SH TH Condo
~25%
~30%
Booking Transfer
Booking by Segmentation : Better Balance in 2011
18.0%25.0%
38.0% 10.0%
9.0%
5 M.B.– 7 M.B.
<3 M.B.3 M.B.– 5 M.B.
7 M.B.– 10 M.B.
>10 M.B.
15.0%
25.0%
30.0%
15.0%
15.0%
<3 M.B.
7 M.B.– 10 M.B.
3 M.B.– 5 M.B.
5 M.B.– 7 M.B. >10 M.B.
2010
2011(F)
Growing Existing Projects
3 4 3 2 3 3
6 6 72 1
7
42 prj.39 prj.
47 prj.
0
20
40
60
80
100
2008 2009 2010
No. of projects
SH TH CONDO
2 5,9 0 9 2 6,9 6 63 1,8 6 0
1,1 6 41,8 0 0
1,1 5 72 4 83 5 6
5,6 4 9
38,666 M.B
28,378 M.B
28,065 M.B
0
10,000
20,000
30,000
40,000
50,000
2008 2009 2010
M.B.~36%
Existing Project as of Dec.2010
47
27522.950%244.8114. The Landmark
2113.43%2,189834.9310. L&H Park
69%
46%
57%
68%
9%
83%
67%
27%
48%
45%
11%
30%
47%
56%
76%
% AVAILABLE FOR SALES
4,9154.52,308526.553. Chaiyapruk
REMAINING PRJ. VALUE
UNIT PRICE
UNITSIZE (Rai)NO. OFPROJECT
LOCATIONTYPE
2,3455.397010.0316. The Room
2703.810518.7113. Terrace
2143.274773.9412. Baan Mai
3991.925220.9111. IndyTH
1,9261.81,79916.7315. The KeyCondo
1,37811.217917.6117. Ocas
38,6664.820,1344,945.5TOTAL
3,5534.71,566400.637.Seewalee
3384.5707209.815. Parichart
8,3996.42,912748.776. Mantana
1,7113.81,504436.424. Chollada
1
5
5
1
1,68030.08355.39. Ladawan
5,25310.81,778914.68. Nantawan
9282.648293.01. InizioSDH
4,8723.52,529563.12.Pruklada
Growing New Projects Launched
7 7 8
1 44
23
2
2
1
7
213 prj.
10 prj.
18 prj. 18 prj.
0
5
10
15
20
25
30
35
40
2008 2009 2010 2011
No. of projects
SH TH CONDO
7,950 11,23918,065
32,870
964
1,615
2,000
1,4002,995
10,426
6,950
2,080
41,820 M.B
30,106 M.B
15,198 M.B11,430
M.B
0
10,000
20,000
30,000
40,000
50,000
60,000
2008 2009 2010 2011
M.B.
(35%)
( 5%)
(60%)(12%)(18%)
(70%)
(20%)
( 6%)
(74%)
(17%)
( 5%)
(78%)
~39%
New Project Planned to Launch 2011
Q.19902.835771.1SHPinklao Wongwhan3. Inizio
LAUNCH DATE
PRJ. VALUE
UNIT PRICE
UNITSIZE (Rai)
TYPELOCATIONPROJECT NAME
Q.46,0009.16605.0CDSathorn17. The Bangkok
Q.49802.835568.7SHSalaya15. Inizio
Q.21,3503.045192.0SHRama II12. Inizio
Q.21,4204.929229.7THRam Indra 6513. Terrace
Q.23,0504.1735166.1SHPracha-u-tid 9011. Pruklada
Q.29007.711634.0SHBuddhabucha10. Mantana
Q.31703.84513.2SHChieng Mai14. Pruklada2
Q.49505.51741.4CDSoi Aree16. The Room
41,8207.15,8881,329.9TOTAL
Q.42,7006.045099.0SHWong Whan Onnuch318. Mantana
Q.210,29042.0245207.9SHRajapruk7. Ladawan
Q.15801.734828.0THBangna K.M264. Indy
Q.21,84040.04641.8SHRattanathibet6. Ladawan
Q.14206.76314.0SHPhuket5. 88 Land and Houses
SH
SH
SH
SH
Q.29006.813230.6Bangyai9. Mantana
Q.21,2005.422151.2Ramkamhaeng8. Seewalee
Q.12,0805.239997.2Bangna1. Seewalee
Q.16,0007.5799279.0Wacharaphon2. Mantana
CAPEX
(M.B.) 2010 2011
Land Acquisition 5,750 6,000
Investment
• LH Bank 1,130 1,800
• L&H Property Co.,Ltd. - 229
Bond Issuance
2010
• Mar 1,000 M.B. 3.6 Yrs. 3.40%
• Mar 2,000 M.B. 3.0 Yrs. 3.00%
• Jul 1,000 M.B. 3.0 Yrs. 2.89%
4,000 M.B.
2011
• Jan 2,500 M.B. 3.0 Yrs. 3.54%
• Q.3 1,500 M.B. 3.0 Yrs. N/A
4,000 M.B.
Long term71%
Short term18%
Current Portion
of Longterm
11%
Sources: Company
3Q10 Outstanding Loans
Short term / Long Term Loans
Total 22,114 M.B.
15,743M.B.
2,391M.B.
3,980 M.B.
Float Rate21%
Fixed Rate79%
Fixed / Float Rate
3Q10 Outstanding Loans
4.08
4.924.994.674.52
3.81
6.005.85
6.50
7.50
6.85 6.75
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
2005 2006 2007 2008 2009 2010
%
Avg. Cost of Debt MLR
Average Cost of Debt
10,72913,116 12,790
14,909 14,617
21,06223,251 23,452
25,23727,140 27,343 27,386
0.460.56
0.510.55 0.53
0.77
0
10,000
20,000
30,000
40,000
50,000
60,000
2005 2006 2007 2008 2009 3Q10
M.B
-1.50
-1.00
-0.50
0.00
0.50
1.00Ratio
Net Debt Equity D/E
Net debts/Equity
Increasing Contribution from affiliated co.
2,374 2,404 2,734 1,650
1,1061,1741,0247850%
20%
40%
60%
80%
100%
2007 2008 2009 3Q10
%.
Contribution from LH's core businessContribution from Affiliated Co.
Affiliated Co. % holding 2007 2008 2009 3Q10
LH Property Fund I, II 49.9 113 61 53 30
LH Bank 41.0 42 104 149 122
Quality Construction 21.2 -33 -10 7 6
Home Pro 30.2 161 286 346 338
Bangkok Chain Hospital 25.1 123 176 193 140
Polar Property Holdings* 25.0 220 51 0 102
Quality Houses 24.9 157 353 427 368
Asia Asset Advisory 40.0 2 3 0 1
Total 785 1,024 1,174 1,106
(25%) (30%) (30%) (40%)
MKT Value of affiliated co. VS. LH’s MKT CAP.
71,984
37,697
63,163 64,661
28,376
19,460
11,07416,206
0
20,000
40,000
60,000
80,000
100,000
2007 2008 2009 2010
M.B.
Affiliated co. LH
3,4793,502
3,530
4,823
23,55215,930
7,57312,727
0
20,000
40,000
60,000
80,000
100,000
2007 2008 2009 2010
M.B.
Listed co. Non-listed co.(at B/V)
Condominium Construction Work Progress
• The Room Sathorn-Taksin
• The Room Sukhumvit 21
• Ocas Hua Hin
• The Key Phahon Yothin
• The Key Chaeng Wattana
• The Key Prachachuen
The Room – Sathorn Taksin
The Room : Construction Progress
Sathorn Taksin Over all Progress = 27.86%
The Room – Sukhumvit 21
The Room : Construction Progress
Sukhumvit 21 Piling Work
Ocas - Hua Hin
Ocas : Construction Progress
External Overall Progress = 48.2%
Ocas : Construction Progress
Internal Mock up room = finished
The Key – Phahon Yothin
The Key – Cheng Wattana
The Key – Prachachuen
The Key : Construction ProgressPhahon Yothin : Piling Work = 40% Chaeng Wattana : Piling Work =32%
The Key : Construction ProgressPrachachuen : Piling Work = 30%
Condominium ScheduleNo Project
1 The Room-Suk.6 2
2 The Room-Sathorn Taksin
3 The Room-Suk.2 1
4 Ocas-Hua Hin
5 The Key-Phahon Yothin
6 The Key-Prachuen
7 The Key-Chaeng Wattana
8 The Room - Soi Aree
9 The Bangkok - Sathorn
2 0 1 2 2 0 1 3
Develop& EIA
Develop& EIA
2 0 1 0 2 0 1 1Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Construction period
Transfer
Rental Property Portfolio
• 62% Expected
Revenue Growth
in 2011
• Potential Divestment
via Public Prop. Fund/
REIT
358
440
679
331
0
300
600
900
1,200
1,500
2010 2011(F)
M.B.
L&H Property Co.,Ltd. L&H Property Fund II
689
62%
1,119
Revenue from Rental Property
415
84
180
0
57
274
0
100
200
300
400
500
L&HRachadamri
L&H VillaSathorn
L&HSukhumvit21
*
M.B.
2010 2011
200
125 11588
119151
0
100
200
300
400
500
L&H Wireless L&H Thonglo L&HPhromphong
M.B.
L&H Property Co.,Ltd. (60%) L&H Prop. and Loan Fund II (49%)
* Tentative opening on Oct’2011
Terminal 21
Terminal 21Description L&H Sukhumvit
No. of unit Serviced Apt. 498Retail 768
Avg. Size/unit Serviced Apt. 43Retail 45
Status Under ConstructionTentative to open:• Retail 11/10/11• Serviced Apartment Oct’ 11
Tenure Leasehold (expiration date: August 1, 2040)
Storey 28(Retail 1-9, Serviced Apt. 10-28)
NLA (sqm) Apartment 21,166Retail 34,897
%Occupancy as of Dec’10 (by area)
~80%
Terminal 21 : Construction ProgressConstruction Progress
Development Progress 41%
• Construction 54%- Piling & Sub-structure 100%- Super Structural work 41%- M/E Work 44%- Lift & Escalators 80%
• Interior Retails 11%(Shops start in May, Mini-shops start in August)
• Interior Serviced Apt. -(Start in April)
• Landscape -
• BRT & MRT Connecting 4%
Design & Consultant Progress 73%
• Design 76%
• Consultant 68%
-
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